At present, the global insurance industry is still exploring the future of digitalization. However, many countries, such as singapore and the united kingdom, have conducted sandbox tests in terms of policies to accelerate the process of insurance digitalization. Even hong kong, china, the united states, japan, singapore, the european union all online insurance companies have been established.
In china 2 , due to the popularity of mobile payments and online services, buying insurance is as simple and convenient as buying products online. Under the loose strategy of encouraging financial technology innovation, the chinese government has not set any special restrictions on the types of goods, insurance amounts and insurance logo design premiums that insurance companies can sell. Special laws or clear regulations, only limited special insurance types in negative lists cannot be insured online.
The competition in china's online insurance market is quite fierce. Not only insurance companies sell insurance through the internet in large numbers, but other industry players are also competing to enter. But on the contrary, the lack of perfect regulations has also caused a lot of chaos in insurance, such as the launch of "Mid-autumn moon appreciation insurance", "Smog insurance", etc., and even products that do not conform to the spirit of insurance, such as "Luhan love insurance" (as long as the male star lu han did not break up with his girlfriend, that is, claims), "World cup regret insurance", etc., have lost the risk sharing purpose of insurance, which is not in line with the nature of insurance, but has become a fund-raising and gambling tool for unscrupulous businessmen.